Digital Assets See Inflows Of $87M

But the market hasn't shrugged off the bearishness.

JamesButterfill310x310
|
Head of Research and Investment Strategy
|
Reviewed by: James Butterfill
,
Edited by: James Butterfill
  • Digital asset investment products saw inflows totalling US$87m last week, pushing year-to-date inflows just past the half a billion mark to US$0.52bn.
  • Bitcoin saw inflows totalling US$69m, bringing year-to-date inflows to US$369m although, due to price weakness, total assets under management (AuM) are now at their lowest point since July 2021.
  • Short Bitcoin saw inflows totalling US$1.8m last week suggesting the market hasn’t completely shrugged-off its bearish undertones.
  • Algorand, the defi focussed protocol, saw record inflows last week totalling US$20m.

 

 

Digital asset investment products saw inflows totalling US$87m last week, pushing year-to-date inflows just past the half a billion mark to US$0.52bn. It remains well below year-to-date inflows this time last year which were at US$5.9bn. It is encouraging given the negative price action of 34% for Bitcoin this year, and implies investors are buying on price weakness.

Regionally, North America saw inflows totalling US$72m while Europe saw US$15.5m, the first time for over a month where we have seen coordinated inflows.

Bitcoin saw inflows totalling US$69m, bringing year-to-date inflows to US$369m although, due to price weakness, total assets under management (AuM) are now at their lowest point since July 2021. Short Bitcoin saw inflows totalling US$1.8m last week suggesting the market hasn’t completely shrugged-off its bearish undertones.

Ethereum resumed it grind lower with outflows totalling US$11.6m last week, bringing net outflows year-to-date to US$250m, a stark contrast to most other altcoins.

Algorand, the defi focussed protocol, saw record inflows last week totalling US$20m, likely triggered by new product launches.

Most other altcoins saw inflows, most notable were Multi-asset, Solana and Tron at US$4.8m, US$1.8m and US$0.4m respectively.

 

 

 

 

 

Contact James Butterfill at [email protected]

James Butterfill has over 19 years of experience in fund management, investment banking, economics and asset allocation, gained most recently as an investment strategist at CoinShares. Previously, he was head of research at ETF Securities, with prior experience as a multi-asset fund manager and investment strategist at Coutts & Co., HSBC & ING Barings. James is a regular media commentator, and frequently appears on Bloomberg TV, CNBC, BBC and other broadcast outlets. Investment Week awarded him best ETF Eesearch and best FX Research in 2016 and 2017, respectively. James is currently an investment strategist at CoinShares, writing research white papers on investment themes, identifying investment opportunities and helping investors understand the digital asset world.